BCC Beam Communications Holdings Limited

Curtis Burton, CEO of Buccaneer Energy, announced that the company has successfully completed drilling of its first offshore gas well with operator AnaTexas and Elixir Petroleum. �The drilling effort has been successful, and we look forward to completing the well and placing it on production in the near term,� said Burton. �We continue to analyze drilling logs and data, but preliminary indications are positive and warrant completion. We are also evaluating with the partners the next steps in the redevelopment of the Pompano field. We will be announcing those plans in the near term.� Clint Wainwright, President of AnaTexas, commented, �If Well Number 1 is any indication, Pompano promises to be an exciting redevelopment with multiple new well locations.� Pompano is located approximately 90 miles southwest of Houston and 30 miles east of Port O�Connor, Texas. It sits seven miles off the coast in the Gulf of Mexico in approximately 55 feet of water. The field was developed by a local independent, Zapata, in the late 1980s. In its heyday, Pompano produced more than 120 billion cubic feet of gas. It was shut in in the early 1990s. The trend that includes Pompano produced more than 850 billion cubic feet before being passed over by the majors as they headed toward deep water. However, Pompano itself survived, with its original platform and pipelines intact, through two hurricanes and a number of different owners. Buccaneer Resources LLC - a wholly owned subsidiary of Buccaneer Energy Limited, a company listed on the Australian Securities Exchange (ASX:BCC). Connecting scarce service-industry resources with capital and quality prospects, Buccaneer Resources has stepped into a resource-constrained world to offer services, equipment and capital to both small and large independents, with the ability to meet the most specific needs. Buccaneer Resources has negotiated special rates with a group of service, hardware and drilling rig providers and can offer client companies access to its network of equipment and services. The network is designed to offer a wide array of resources needed by nearly any segment of the upstream energy industry to bring a development on line. Buccaneer is actively building capital and resource solutions for multiple prospects, both onshore and in the Gulf of Mexico. More information can be found at www.buccaneerresources.com.